These are the highlights for events and updates across the insurance industry this week.
Retirees to see 2% pension boost as silver economy expands
On July 10, China's Ministry of Human Resources and Social Security(MOHRSS) and the Ministry of Finance jointly issued a notice regarding the adjustment of basic pensions for retirees in 2025. According to the notice, starting from January 1, 2025, basic pensions will be raised by 2% based on the average monthly pension of retirees in 2024. The increase will apply to those who had completed retirement procedures and were receiving pensions by the end of 2024. Authorities said the additional payments would be distributed as soon as possible.